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88- 104471 If Lender required mortgage insurancc as a condition of making the loan securcd by this Security Instrument, Borrower shall pay the premiums required [Q maint~in the insurance in effect until such time as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law_ 8. Inspection. Lcnder or its agent may make reasonablc cntries upon and inspections of the Prcpeny. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential. in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lendcr. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument. whether or not then duel with any excess paid to Borrower. In the event of a panial taking of the PropenYl unlcss Borrower and Lender othcrwise agree in writing, the sums secured by this Security Instrumcnt shall be reduced by thc amount of the proceeds multiplied by thc following fraction: (a) the total amount of thc sums secured immediately beforc the taking, divided by (~) the fair market value of the Propeny immcdiately before the taking. Any balancc shall be paid to Borrower. If thc Property is abandoned hy Borrower. or if. afler notice by Lendcr to Borrowcr that thc condemnor offers tn make an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is lluthorized to collect and apply the proceeds. at its option, either 10 restoration or repair of the Property or to Ihe sums secured by this Security Instrument, whcther or not then due. Unless Lcndcr and Borrower otherwise agrce in writing, any application of procccds 10 principal shall nol extend or postpone the due dale of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments. 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Sccurity Instrument granted by Lendcr to any successor in interest of Borrower shall not operate to rcleasc thc Iiahility of the original Borrower or Borrower's successors in interest. Lcndcr shall not bc required to commence proccedings against any successor in intcrcst or refusc 10 cxtend time for payment or otherwise modify amonizulion of the sums secured by this SecurilY Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. A ny forbearance by Lender in exercising any right or remedy shall not be a waiver of or prcclude the cxcrcisc of any right or remedy. 11. Successors and Assigns Bound; Joint and Several Uability; eo..slgners. Thc co'cnants and agreements of this Security Instrument shall bind and benefitthc successors and assigns of Lcndcr and Borrower, subject to the pro\nious of paragraph 17. Borrower's covenants and agreements shall be joint and scveral. Any Borrowcr who co-signs this Security Instrumcnt but does nO! execute the Note: (a) is co-signing this Security Instrumcnt only 10 mongage. grant and convey that Bnrrower's interest in thf Propeny under the lerms of this SL'Cunty Instrument: (bl is not persolllllly obligated to pay thc sums sccured hy this Security Instrument: and (c) agrees thai Lcndcr and any other Borrnwcr may agree to cxtcnd, modify. forhcar or makc any accommodations with regard to the tcnns of Ihis Security Inslrument or the Note without that Borrowcr"s consenl. 12. Loan CharKf'. If the loan sccured by this Security Instrumcnt is subject to a law which sets maximum Jnan chargcs, and that law is finally intcrpretcd so that the interest or other loan charges collecled or to be collected in connL'Clion wilh lhe loan cxceed Ihe pennilled limits, then; (a) any such loan charge shall be reduced by the amount necessary to reducc Ihe charge to the pennllled limit; and (b) any sums already collecled from Borrowcr wbich exceeded penntllcd Iimtts will be refunded to Borrowcr. Lender may choose to make this rcfund by reducing the principal owed under the Notc or by making a dirccl paymenllo Borrower. If a refund reduces principal. t hc reduction will be Irealed as a paniul prcpuymcnl without any prepayment charge under the Note. 13. LeKI,laUon AlfeclinK Lender', Rights. If cnactment or cxpiration of apphClble laws has the effect of rcndcnng any prO\'I!lolOn oflhc Note or this Security Instrument unenforceable according 10 its terms. Lender. at its option. may require ImmL'II;alc paymcnt In full of all sums sccured by this Security Instrument and may inmke any remedies permilled by paragraph lQ. If Lender cxerciscs this option. Lender shall take Ihe steps specified in the second paragraph of paragraph 17. 14. Notices. Any nolice 10 Borrower provided for in Ihl~ Secunt)' Instrument shall be given by dehvering it or by mailing it by first class mall unle>s apphcable law require> use of anolher mcthod. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lcnder. An). notice to Lender shall be given by first cIass mail to Lendcr"s address slat cd hercin or any othcr address Lender designates by 1I01lce to Borrowcr. Any nOllce provided for in Ihis Security Instrument shall be deemed to ha\'e been gi\'cn to Borrower or Lender when given us pro1o'ided in this paragraph. 15. Governing Law; Severability. This Sccurity InMrument sball he go'emed by f<-dcrallaw and the law of the jurisdiction in which the Propen~' is located. In the event thai any prOVision or clause of Ihl!. St:curity Jnstrument or the Note conflicts with applicable law, such caoflicl shall nOI affect other provis.ions of this Securil)o Instrumt::nt or the NOle: which can be given effect without the conflicting provision. To this end the provision!. or this Security Instrument and the Note are declared to be severable_ 16. Borrower's Copy. Borrower shall be gIven one confonned copy of the Note and ofth" Security Instrumcnt. 17. Transfer or the Property or a Beneficial Interest in Borrower. If all or any part of the Propeny or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower i~ nol a natural person) without Lender's prior wriuen consent. Lender may, at its option. require immediate payment in full of all sums secured by this Security Instrument. However, Ihls option shall not be c"ercised b)o' Lender If exerci!te IS prohibited by fcdcrallaw as ofthc date of this Security Instrumcnt. If lender exercises this option. Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailcd within which Borrower mU'1 pay all 'ums secured by this Security Instrument. If Borrower fails to pay these sums prior 10 the expiration oflhi!. period, Lender ma)' invoke an~' remedies pennitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrov'cr o;;hall have the right to have enforcement of this Security Instrument discontinued al any time prinr to the earlier or: (a) 5 day!. (or !.uch other period a~ applicablc law may specify for reinstatement) before sale oftbe Propeny pursuant 10 any power of sale contained In thIS Security Instrumenl; or (b) entry of a judgment enforcing Ihis SecUT11y In!.lrument. Those conditions arc Ihat Borrower: (a) pays Lender all sums which thcn would bc due under Ihis Security [n'trumeol and Ihe Note had no accelerallno occurred: (b) cures any L1daull .. f any other covenants or agreements: (c) pays all ex.penses incurred in enforcmg thiS Security Instrument. including, but not limited Ill, reasonable altomcys' fee!.; and (d) Itlkl.~ 'ouch acllnn a~ Lender may reasonably require to assure thai the lien of this Security Instrument, Lender's rights in the Property and r ,rrower's obligation to pay the sums secured by tlm. Security [n...trument "hall continue unchanged t'ron rcmo.;W menr h~ Borrower. Ihi~ SeL:urity [""trumenl and the (lhligallnn~ !.ccured herchy shall rcmaln full~ dTCl.-t!\ C OJS If no ace. ' tilm hild occurred_ Hnwc\'cr, chi"" TIght to rcmstate shall nol :Ipply IJIlhe.' i.'a...e (If acu~lt'rallnrl unlit" ranlgrarh.. 11 (If 17